Budget Highlights: India unveils budget with focus on rural economy


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NEW DELHI (Reuters) – India unveiled its budget for the fiscal year starting April 1 on Thursday, in what is being seen as a test for Prime Minister Narendra Modi to maintain fiscal discipline without stifling economic growth ahead of general elections next year.


Here are the highlights of Finance Minister Arun Jaitley’s budget for the 2018/19 fiscal year.


GROWTH


Estimates 7.2 to 7.5 percent GDP growth in second half of current fiscal year


Finance minister says “firmly on path to achieve 8 percent plus growth soon”


INFRASTRUCTURE


To spend 14.34 trillion Indian rupees ($225.50 billion) on rural infrastructure


AGRICULTURE


Finance minister says will focus on strengthening rural, agriculture economy


Sets 10 trillion rupees to 11 trillion rupees credit for “agricultural activities”


Minimum support price of all crops to be increased to at least 1.5 times of production cost


Export of agriculture commodities to be liberalised


HEALTH/POLLUTION


To provide 500,000 rupees per family annually for medical reimbursement under National Health Protection Scheme. Finance minister says the plan will protect 100 million poor families and will be world’s largest health protection scheme.


To implement special schemes for governments around Delhi to address air pollution


Removal of crop residue to be subsidized in order to tackle the problem of pollution due to burning of crop residue


($1 = 63.5925 rupees)


Compiled by Krishna N. Das; Editing by Sanjeev Miglani


Article source: http://indianexpress.com/article/sports/tennis/australian-open-2018-brand-less-slam-less-simona-halep-looks-for-more-in-melbourne-5022967/


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